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Canamex Gold advances as it updates on token offering and new subsidiary

In May this year, the firm launched a private placement to accredited investors, of GOLDUSA Ethereum ERC20 crypto tokens

The firm will maintain the STO subscription offer price at US$4.25 per GOLDUSA token until further notice, it said

Canamex Gold Corp (CSE:CSQ) updated on its security token offering (STO) and said its new subsidiary ChainDelivery Royalties Corp was incorporated in British Columbia on June 1 as a 100% owned subsidiary.

In May this year, the firm launched a non-brokered private placement to accredited investors, of GOLDUSA Ethereum ERC20 crypto tokens via what's called a security token offering.

Due to significant demand at lower subscription amounts, the firm has decreased the STO minimum subscription amount from 25,000 GOLDUSA tokens to 2,500 GOLDUSA tokens, for valid subscriptions received from 0900 PST on June 11.

The firm will maintain the STO subscription offer price at US$4.25 per GOLDUSA token until further notice.

This is 35% discount to US$ 6.50 value per token, based on a US$1,300 per ounce gold price.

Canamex also said it had assigned all its intellectual property rights (IPR) to CHAIN, in relation to security tokenisation of metal royalty streams, and associated financing models.

It said it may spin out CHAIN into a separate crypto-royalties trading company, via an equity STO

The market will be kept informed, when a final decision is made, it said.

The company owns all the rights, via its agreements with Harmonychain AS, to the trademark ChainDelivery(TM), which was approved as a registered trade mark in Norway on April 26, 2018.

Canamex shares added 4.17% to C$0.125 on Monday.

Quick facts: Canamex Resources Corp

Price: $0.04

Market: CSE

Market Cap: $2.46 m

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